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Authors: Ulrich Pferschy 1 ; Joachim Schauer 1 and Gerhild Maier 2

Affiliations: 1 University of Graz, Austria ; 2 UPPER Network GmbH, Austria

ISBN: 978-989-758-017-8

Keyword(s): Advertising Media Optimization, Quadratic Knapsack Problem, Genetic Algorithm.

Related Ontology Subjects/Areas/Topics: Decision Support Systems ; Methodologies and Technologies ; Operational Research ; Resource Allocation

Abstract: In this contribution we present an optimization model for deciding on the best selection of advertising media to be used in a promotional campaign. The effect of each single medium and each pair of media is estimated from the evaluation data of past campaigns taking into account a similarity measure between the attributes and goals of campaigns. The resulting discrete optimization model is a Quadratic Knapsack Problem which we solve by a genetic algorithm. Then campaign budget is assigned to each selected advertising medium based on a statistical estimation from previous campaigns. Our optimization tool is integrated in the marketing management software solution MARMIND.

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Paper citation in several formats:
Pferschy, U.; Schauer, J. and Maier, G. (2014). Media Mix Optimization - Applying a Quadratic Knapsack Model.In Proceedings of the 3rd International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES, ISBN 978-989-758-017-8, pages 363-370. DOI: 10.5220/0004825803630370

@conference{icores14,
author={Ulrich Pferschy. and Joachim Schauer. and Gerhild Maier.},
title={Media Mix Optimization - Applying a Quadratic Knapsack Model},
booktitle={Proceedings of the 3rd International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,},
year={2014},
pages={363-370},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0004825803630370},
isbn={978-989-758-017-8},
}

TY - CONF

JO - Proceedings of the 3rd International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,
TI - Media Mix Optimization - Applying a Quadratic Knapsack Model
SN - 978-989-758-017-8
AU - Pferschy, U.
AU - Schauer, J.
AU - Maier, G.
PY - 2014
SP - 363
EP - 370
DO - 10.5220/0004825803630370

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